VMWare (VMW) Posts Q3 Earnings Beat, Revenue Gains 11%

VMWare, Inc. (VMW) released its third-quarter fiscal 2018 financial results, posting non-GAAP earnings of $1.24 per share and revenues of $1.98 billion.

Currently, VMW is a Zacks Rank #3 (Hold) and was up 2.69% to $123.34 per share in after-hours trading shortly after its earnings report was released.

VMWare:

Beat earnings estimates. The company posted non-GAAP earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.27 per share.

Beat revenue estimates. The company saw revenue figures of $1.98 billion, beating our consensus estimate of $1.96 billion. Revenue was up 11% year-over-year.

Operating cash flows for the third quarter were $970 million, while free cash flows for the quarter were $911 million.

“We had a solid third quarter,” said CFO Zane Rowe. “Our results reflect continued strength across the portfolio and customers’ commitment to VMware as a strategic partner for both on-premises and hybrid-cloud software solutions.”

VMWare did not include guidance in its earnings press release.

Here’s a graph that looks at VMW’s earnings surprise history:

Vmware, Inc. Price, Consensus and EPS Surprise

Vmware, Inc. Price, Consensus and EPS Surprise | Vmware, Inc. Quote

VMware provides virtualization solutions from the desktop to the data center. Their solutions enable organizations to aggregate multiple servers, storage infrastructure and networks together into shared pools of capacity that can be allocated dynamically, securely and reliably to applications as needed, increasing hardware utilization and reducing spending.

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